amends the Income Tax Assessment Act 1936 to ensure outcomes are preserved in relation to tax assessments where taxpayers have reasonably and in good faith anticipated the impact of identified announcements made by a previous government that the tax law would be amended with retrospective effect, and the current government has now decided that the announced proposal to change the law will not proceed

amends the Income Tax Assessment Act 1997 to introduce an integrity rule to limit the ability of taxpayers to obtain a tax benefit from “dividend washing”.